Nantucket Island School Of Design And The Arts
- Assets
- $2.8m
- Revenue
- $519.0
- Investments
- $0.0
- Employees
- 0
- Location
- Nantucket, MA
- Founding
- 09/1978
- Data as of
- 06/2021
- EIN
- 04-2642384
Organization Overview
Nantucket Island School Of Design And The Arts is located in Nantucket, MA. The organization was established in 1978. According to its NTEE Classification (A25) the organization is classified as: Arts Education, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nantucket Island School Of Design And The Arts is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Nantucket Island School Of Design And The Arts generated $519.0 in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (56.9%) each year. All expenses for the organization totaled $486.1k during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
ENHANCE COMMUNITY ARTS & EDUCATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
WEEKLY LECTURE SERIES & WORKSHOPS, COLLEGE AND COMMUNITY PARTNERSHIP PROGRAMS, PROGRAM OF CULTURAL CURRICULUM,COMMUNITY EVENTS, ARTIST IN RESIDENCE PROGRAM, AND YOUNG ARTISTS: KINDERARTS, YOUTH CLASSES & TEEN PROGRAMS.DUE TO ONGOING HISTORIC RESTORATION PROJECTS, MOVING OF THE COTTAGES FROM THE FLOOD ZONE IN TOWN OUT TO WAUWINET, AND THE CONSTRUCTION SCHEDULING AND SUPPLY DELAYS DUE TO COVID, ONLY ONE ARTIST WAS APPROVED TO ATTEND THE ARTIST IN RESIDENCY PROGRAM DURING FY21.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Denese Allen Treasurer | OfficerTrustee | 3 | $0 |
Laura Herhold Director | Trustee | 3 | $0 |
Carol Putnam Director | Trustee | 3 | $0 |
Tucker Cronin Director | Trustee | 5 | $0 |
Kathy Kelm President/director | Officer | 60 | $150,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $26,000 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$30,194 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $519 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $150,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,550 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,380 |
| Fees for services: Accounting | $22,085 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $172,359 |
| Advertising and promotion | $3,633 |
| Office expenses | $13,670 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $54,275 |
| Travel | $2,332 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $48,784 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $486,068 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $932,240 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,815,046 |
| Accounts payable and accrued expenses | $14,643 |
| Grants payable | $0 |
| Deferred revenue | $291,453 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $427,895 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $733,991 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $2,081,055 |